What best describes the purpose of the PSM Server in CyberArk?

The purpose of the PSM (Privileged Session Manager) Server in CyberArk is primarily to facilitate secure connections and sessions. This component acts as a gateway between authorized users and the systems they need to access, enabling secure remote sessions to be established while also providing a method for monitoring those sessions. The PSM ensures that all connections to privileged accounts are conducted in a secure manner, often leveraging protocols like SSH or RDP for encrypted communication.

By directing all session traffic through the PSM, organizations can enforce security policies, maintain an audit trail of user activities, and ensure that only authorized personnel can access sensitive systems. This design not only enhances security but also simplifies compliance with regulatory requirements by keeping thorough records of privileged access sessions. It centralizes the control of access to privileged accounts, thereby reducing the risk of misuse or unauthorized access.

The other options, while they may pertain to aspects of cybersecurity or user management, do not capture the primary role of the PSM Server as accurately as the chosen correct answer. The PSM is not primarily focused on credential management, data backup, or user activity monitoring independently but rather serves as a secure facilitator for session management, which encompasses various protective measures, including monitoring and access control.